“Set a goal specific to each phase in your capital campaign to direct how you will communicate with donors. Make sure the budget falls in line with the budget for your overall campaign.”

Anticipating the communication costs that you’ll incur during each phase of the campaign is vital to ensuring your overall success.

3. What do I need to run a successful capital campaign?

There are many elements to a successful capital campaign, but these are the most fundamental to getting your campaign off the ground.

Case for support

A case for support, or case statement, is the most important aspect of your campaign. A case for support explains why donors should give to your campaign.

More specifically, a case for support is a concise overview of the purpose of your organization and why it deserves donor support. You likely already have a case for support that’s communicated by your donation request letters or mission statement, but you’ll need to develop one that’s specific to your project and capital campaign as well.

Nonprofits that use a case statement to demonstrate their impact, needs, and course of action are more likely to meet their goals.

In short, a case for support should show donors:

Why your campaign matters

How much you need to raise

How their donations can help

Feasibility study

A feasibility study will determine whether or not a capital campaign is viable for your organization.

After all, capital campaigns are expensive and complicated endeavors; it’s important that an organization is well-equipped to handle the inevitable challenges.

Here’s how it works: an objective third party representative interviews key stakeholders and focus groups to elicit their perceptions of your organization and the capital campaign.

The results of the study should show:

Whether people would be willing to donate to your capital campaign

How much you could reasonably raise from your current donor base

How donors feel about the project and if they see it as instrumental to your cause

Planning committee. The planning committee consists of 10-15 members, including staff and volunteers. They’ll ensure everything is ready for the quiet phase.

Steering committee. This committee oversees the campaign once it reaches the quiet phase. The steering committee should consist of effective advocates and solicitors who can actively raise funds.

In addition to building your in-house team, you’ll want to consider hiring outside assistance in the form of a capital campaign consultant.

A consultant is an expert advisor who can help with specific campaign services and general campaign management. A consultant can be an enormous asset and resource for your team.

Most often, they’re used as the objective third-party representative in a feasibility study. That said, consultants are usually hired for the duration of the campaign — as partners who can assist your nonprofit with new challenges and opportunities as they arise.

To learn more about the top consultants who can help your organization, check out this DonorSearch resource.

5. What does a typical campaign timeline look like?

Now that you understand the basic components of a capital campaign, it’s important to understand how they progress (and ultimately, how they’ll work together to help you achieve your fundraising goal).

Here’s how the timeline works:

Step 1: Feasibility stage

During this stage, you’ll perform your feasibility study and use the results to set your campaign goal and determine the effectiveness of your case for support.

Step 2: Pre-campaign planning

During this phase, you’ll build your campaign strategy and list your major donor prospects. Additionally, you’ll secure and train your leadership so that they’re ready to execute the campaign.

Launch your campaign to the public with a kick-off. You should send out a press release and host an event (or otherwise catch the attention of your donors and the general public).

Have an online donation form ready to collect donations for your campaign as soon as you start the kick-off. You may want to build a separate website for your campaign or designate a donation page for the campaign instead of your annual fund.

It’s vital that you thank donors for their gifts ASAP. And don’t just thank them — recognize them as the invaluable supporters that they are.

You may have a donor wall for high-level contributors, or you may send thank you notes to each and every supporter.

The key is to follow-up on their contributions and show them how much they mean to your organization. After all, you want to build sustainable relationships so that donors want to return to your nonprofit.

Be sure to update donors on post-campaign progress as well (they want to see that their donations have been put to good use!).

Stewardship is an ongoing process that doesn’t simply end when your campaign does, so be sure to keep your outreach consistent so these donors stay connected to your mission.

Now that you know the basics to running a capital campaign, you can determine whether a campaign is right for your organization.Though challenging, a capital campaign can be incredibly rewarding.The more prepared you are, the better your chances of success!

JENNY GOLDBERG is an experienced fundraiser, talented speaker and respected advisor with a diverse background in development and media/public relations. At Aly Sterling Philanthropy, Jenny is focused on leading and building a strong advisor team and helping her clients improve fundraising strategies, donor relations, gift cultivation and overall team effectiveness. Read more.